Daily Report 05.06.2019
Datum objave: 05.06.2019
Dow rallies more than 500 points ; European markets close higher as autos climb 3.2%
Stocks surged on Tuesday, climbing back from a big rout in the past month, after Federal Reserve Chairman Jerome Powell signaled the central bank was open to easing monetary policy to save the economy and as trade tensions eased amid comments by China and Mexico.
The Dow Jones Industrial Average climbed 450 points, or 1.8%. The S&P 500 jumped 1.8% — heading for its biggest one-day gain since Jan. 4 — and the Nasdaq Composite jumped 2.3%. Stocks that have been hit hard during the month-long sell-off led Tuesday’s comeback, including Apple and bank shares.
Republican lawmakers are also discussing whether they may have to vote to stop the new tariffs on Mexican goods threatened by Trump, according to The Washington Post, citing people familiar with the matter. The report said GOP lawmakers are worried about the ramifications for businesses and consumers of the tariffs. Shares of GM and Ford, companies who could take a hit under the new tariffs, rose 5% and 2.9%, respectively.
European stocks rebounded toward the end of Tuesday’s session amid recovering investor sentiment worldwide, with autos emerging as the leading performer with a 3.2% rise. The pan-European Stoxx 600 climbed 0.65%, while technology stocks were one of only a few sectors still in the red with a 0.2% decline.
Shares of French gaming firm Ubisoft fell 3.2% after it was revealed that the Guillemot family company had sold shares worth 14.4 million euros.
Meanwhile, Euro zone inflation fell more than expected last month, adding to worries about weak price pressure and reinforcing the case for more stimulus by the European Central Bank. Inflation in the 19 countries sharing the euro fell to 1.2% in May from 1.7% in April, below expectations of 1.3% and more than reversing a one-off surge related to the timing of Easter. That’s according to Reuters.
Serbia-EAEU trade deal may be signed by end-2019
A free trade agreement between the Eurasian Economic Union (EAEU) and Serbia may be signed by the end of this year, Russian State Duma Chairman Vyacheslav Volodin said in Belgrade Monday. "An EAEU-Serbia agreement on a free trade zone, expected to be signed at the end of the year, would open up the markets of countries with around 180 mln people to Serbian goods," Volodin told a committee on cooperation between the Serbian parliament and the Duma, the lower house of the Russian parliament. The volume of Russian-Serbian trade has risen 3 pct since the beginning of the year, totalling 571 mln dollars in January-March, he said.
NBS: Dinar grows stronger with confidence of important investors
Increased pressure towards the strengthening of the dinar in the local FX market and the domestic currency appreciating over the past several days can be ascribed almost entirely to the rising confidence of foreign investors, who have been increasingly investing in long-term dinar bonds of the Republic of Serbia, NBS said. Over the past several days, non-residents sold significant amounts of FX and bought dinars in order to invest in the government bonds of Serbia which has fully transformed its economic indicators, turning them to a positive direction. This way, investors have shown they are confident that our country’s further development will rest on sustainable economic grounds, the report said
ENHL: Energoprojekt contracted two jobs in Serbia worth EUR 21m
Energoprojekt reported two newly contracted jobs from Serbia, valued at EUR 21m. This is about reconstruction of several major streets in Belgrade. Completion deadline is 120 and 200 working days.
Source: Belex, Iliirka
Daily Report 10.06.2019
10.06.2019 | Dow jumps 260 points, posts best week since November after jobs report spurs rate-cut hopes; European stocks close higher as weak US jobs data points to potential Fed rate cut; NBS: NBS keeps key policy rate at 3%; Fabrizi: Serbia has achieved good macroeconomoc results; NIIS: Antic signs agreement on natural gas power stations
Daily Report 06.06.2019
06.06.2019 | Dow rallies 200 points as stocks surge for a second day on hope the Fed will cut rates; European stocks close mostly higher; Italian banks fall on EU ruling; China Railway International seeking subcontractors for works on Belgrade Center-Stara Pazova section; World Bank retains 3.5% growth projection for Serbia; PepsiCo confirms it will acquire Knjaz Milos with KMV
Daily Report 05.06.2019
05.06.2019 | Dow rallies more than 500 points ; European markets close higher as autos climb 3.2%; Serbia-EAEU trade deal may be signed by end-2019; NBS: Dinar grows stronger with confidence of important investors; ENHL: Energoprojekt contracted two jobs in Serbia worth EUR 21m
Daily Report 04.06.2019
04.06.2019 | Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech; European markets close higher after Wall Street erases losses; KMBN: Komercijalna Banka might be sold for EUR 415 million; Serbian import rises still faster vs. export; Unemployment in 1Q19 ta 12.1%
Daily Report 03.06.2019
03.06.2019 | KMBN: Public call for statements of interest in purchasing Komercijalna Banka opens; Serbia's GDP 2.5% up y-o-y in real terms in Q1 2019; SORS, NBS: Industrial output in April down 0.8% y/y; Dow drops more than 350 points after Trump threatens new tariffs on Mexico, posts 6-week slide; European markets close lower after Trump stokes recession fears; Stoxx 600 hits 3-month low
Daily Report 31.05.2019
31.05.2019 | Stocks rise slightly, but trade and economy worries persist; European markets close higher; Axel Springer leaps on KKR investment talks; MTLC: Metalac reported slightly higher consolidated sales and 7% lower net profit, for 2018; EC: Strong investment activity supports growth of Serbian economy; Minimum wage to be increased in September
Daily Report 17.05.2019
17.05.2019 | ENHL: Energoprojekt reports EUR 346m backlog; NBS: Foreign direct investments in Serbia amount to EUR 1.2 billion in the first four months; JESV: Jedinstvo reported higher quarterly sales and lower net profit; Dow jumps more than 200 points, posts 3-day winning streak, boosted by bank shares and Walmart; European stocks close higher as trade fears fade
Daily Report 13.05.2019
13.05.2019 | Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed; IMF mission opens official discussions with Serbian delegation; 88 pct of AHK members would invest in Serbia again – survey; Dow stages 450-point comeback, ends the day higher after Trump says China trade talks to continue, Europe stocks close higher despite US tariff hike on Chinese goods, Thyssenkrupp rises 28%
Daily Report 10.05.2019
10.05.2019 | State sells its share in Jubmes Banka to Alta Pay Group at the stock exchange; Serbia's c-bank keeps key rate unchanged at 3.0%; 15 state-owned companies to be sold by end of year; Dow falls 140 points, S&P drops for a fourth day as new China tariffs set to kick in at midnight, European markets slide as trade fears mount, autos down more than 3%
Daily Report 09.05.2019
09.05.2019 | EBRD sees steady growth in Western Balkans – Montenegro and Serbia fastest growing economies in the region in 2018; Construction of Preljina-Pozega highway section to begin on May 17; IMF to recommend increase in price of electricity by up to 5%?; Stocks close little changed in volatile trading day as investors unsure of trade deal outcome, European stocks close higher as White House says China wants to make trade deal